Have you accumulated a number of different loans at comparatively
high rates of interest? Is just paying the interest on these
loans a problem - do you feel you are running to keep still?
Maybe a Debt Consolidation Loan would
help.

What is a Debt Consolidation Loan?
In today's society, credit is all too readily available. We're
encouraged to borrow more and more in order to have today what we
can't afford until tomorrow - if ever. Many of us accumulate a
number of "small", "short term" loans - credit cards, store cards,
bank loans and overdrafts, hire purchase deals, etc. Often
these loans are at a high rate of interest.

A Debt Consolidation Loan is a single
loan designed to allow all the other loans to be paid off.
Because the larger Debt Consolidation Loan
is at a lower interest rate, it enables you to pay off more of what
you owe from the same (or even reduced) regular repayments.

Benefits of a Debt Consolidation Loan:

By reducing the interest rate you pay, and possibly increasing
the term of your loans, you may increase your regular disposable
income (what you are able to spend) while still paying off your
debts.

If you cannot afford to pay even the interest on all of your
existing loans, a Debt Consolidation Loan may be your only means
of "keeping your head above water" - allowing you to manage your
regular income and establish a budget that enables you to reduce
your debts.

Obtaining a sum of money that allows you to pay off all of you
existing loans may improve your credit rating - although be
careful - if you fail to meet the payments on the new loan, or
take too much advantage in an improved credit rating, thing
could go from bad to worse.

What to look out for:

There may be fees associated with setting up a
Debt Consolidation Loan or using it to pay off
some of your existing loans early - you will
need to take these into account.

Once you have cleared all your existing short
term debts do not be tempted to start again!
If your debts have accumulated because your life
style is more than you can afford, you must fix
this problem. Either you must change your
spending habits so that you are living within
your means, or you must increase your income -
maybe an
additional job would help to provide more
income and less opportunity to spend.

Finding the best Debt Consolidation Loan.
Debt Consolidation loans are available for tenants and homeowners for a
variety of purposes. The market is very competitive
and the best rates available to you may depend upon your personal
circumstances. The more evidence that you can provide that the
lender accepts as indicating that you are a "lower risk", the
more likely you are to obtain a lower interest rate. Compare a
number of loan suppliers (online links will allow you to get quick
quotes before you make any commitments) to find the best deal for
you.

Use
online loan calculators to check
that you can afford the repayments - if you borrow more than you can
afford to pay back, then your credit rating will only get worse.